Egyptian billionaire eyes mining opportunities at home with new law

New report says risks to supply remain substantial.

Glencore has little exposure to iron ore and the commodity has long represented the bulk of profits at the Swiss-based company's diversified peers.

Diversified giant Anglo American won't be bidding for the one of the greatest iron ore prizes anywhere in the world.

Patrice Merrin, 65, is a veteran to the industry.

The three-year agreement ends the country's longest and costliest strike.

Company acknowledges the short-term outlook is bad.

Net profits from progressing economies-based miners reached $24 billion in 2013, compared to a net loss of $4 billion for developed market firms.

The union leading the five-month strike in the platinum sector take any industrial action affecting gold producers.

But Chinese banks are starting to call in iron ore-backed loans to traders holding 38mt, forcing them to dump inventories onto already well-supplied market.